US equities closed lower for the fourth of five days this week, sp -21pts @ 1922 (intra range 1960/18). The two leaders - Trans/R2K, settled lower by -0.7% and -1.7% respectively. Near term outlook offers serious threat of a Monday gap lower <1900.. but with increasing threat of a short term floor.
*yet another new low for the 'old leader' - Transports, @ 6934.
The daily/weekly close was very bearish, as the sp' hit the target zone of 1920/00. There is SERIOUS threat of an opening gap lower under the 1900 threshold.. with empty air to the Aug' low of 1867.
The market will likely see a floor next Mon/Tuesday... before battling upward (upside/bounce target will be dependent on where we floor).
a little more later...